The inflation rate in Faroe Islands was recorded at -0.10 percent in the second quarter of 2020.

Inflation Rate in Faroe Islands averaged 1.08 percent from 2002 until 2020, reaching an all time high of 7.90 percent in the third quarter of 2008 and a record low of -3.10 percent in the third quarter of 2009. This page provides - Faroe Islands Inflation Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news. Faroe Islands Inflation Rate - values, historical data and charts - was last updated on September of 2020.

Inflation Rate in Faroe Islands is expected to be 1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Faroe Islands to stand at 1.60 in 12 months time. In the long-term, the Faroe Islands Inflation Rate is projected to trend around 2.00 percent in 2021 and 1.80 percent in 2022, according to our econometric models.

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Faroe Islands Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 1.60 7.90 -3.10 2002 - 2020 percent Quarterly

Faroe Islands Prices Last Previous Highest Lowest Unit
Consumer Price Index CPI 120.80 121.90 193.80 99.30 points [+]
Inflation Rate -0.10 1.60 7.90 -3.10 percent [+]
Inflation Rate Mom -0.90 -0.20 2.20 -1.30 percent [+]
Food Inflation 1.70 2.60 8.70 -1.60 percent [+]

Faroe Islands Inflation Rate
In Faroe Islands, the most important categories in the consumer price index are food and non-alcoholic beverages (20 percent of total weight), housing and utilities (18 percent), transport (14 percent), and recreation and culture (11 percent). Miscellaneous goods and services account for 8 percent; furnishing and household equipment for 8 percent; and clothing and footwear for 6 percent. The index also includes: communication (5 percent); alcoholic beverages and tobacco (5 percent); restaurants and hotels (3 percent); and health (2 percent).